IRDA is a shortened form of Insurance Regulatory and Development Authority. This power was built up on 29th December, 1999. The Central Government implemented the Insurance Regulatory and Development Authority Act, 1999. Under this Act, they need to secure the interests of Policyholders, advance and guarantee about the development of Insurance Industry and to control the matters are gathered therewith.

The target of this power is just for protection holders. They shield them from any misrepresentation and mishappenings, by Insurance Company with their clients. In the wake of implementing this demonstration, The other protection act, 1938, The general Insurance Business Act, 1972 and The Life Insurance Corporation Act, 1956 were all revised.

Here is a list of Life Insurance companies registered by IRDA

1. Aegon Life Insurance Co. Ltd.
2. Aviva Life Insurance Co. India Ltd.
3. Bajaj Allianz Life Insurance Co. Ltd.
4. Bharti AXA Life Insurance Co. Ltd.
5. Birla Sun Life Insurance Co. Ltd.
6. Canara HSBC Oriental Bank of Commerce Life Insurance Co. Ltd.
7. DHFL Pramerica Life Insurance Co. Ltd.
8. Edelweiss Tokio Life Insurance Co. Ltd
9. Exide Life Insurance Co. Ltd.
10. Future Generali India Life Insurance Co. Ltd.
11. HDFC Standard Life Insurance Co. Ltd.
12. ICICI Prudential Life Insurance Co. Ltd.
13. IDBI Federal Life Insurance Co. Ltd.
14. India First Life Insurance Co. Ltd
15. Kotak Mahindra Old Mutual Life Insurance Ltd.
16. Life Insurance Corporation of India
17. Max Life Insurance Co. Ltd.
18. PNB MetLife India Insurance Co. Ltd.
19. Reliance Life Insurance Co. Ltd.
20. Sahara India Life Insurance Co. Ltd.
21. SBI Life Insurance Co. Ltd.
22. Shriram Life Insurance Co. Ltd.
23 Star Union Dai-Ichi Life Insurance Co. Ltd.
24. Tata AIA Life Insurance Co. Ltd.